SGX Nifty 24th July 2015

SGX Nifty

-200.14

Index Last High Low
Nifty Future Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response
Nifty Future Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response Error parsing: Query returned empty response
CNX Nifty Spot 7879.50 7880.20 7837.70

 

SGX Nifty / Nifty Trend / Nifty Prediction / Stock Market Tips for 24th July 2015

SGX Nifty / Nifty Trend today was down. SGX Nifty Minor Trend is down. SGX Nifty Major Trend is also down. SGX Nifty resistance for tomorrow (24th July ) is at 8672-8720 (Nifty Spot levels mentioned) SGX Nifty support for tomorrow (24th July ) is at 8477 (Nifty Spot levels mentioned) Nifty below 8561 could see intraday sharp fall on 24th July 2015. Caution is advised on long side.

As per our analysis SGX Nifty / Nifty Future / Nifty Spot is ending it’s pullback that started from 7941 and inversion has been confirmed meaning down cycle started from 4th March 2015 will be extending in time and price lower. We have been recommending exiting on this rally / pullback in the Stock Markets and waiting for lower levels to invest / Buy. Historically no one has made money Buying at this valuations and this time it will be no different. SGX Nifty / Nifty trailing valuations are almost the same as that of 9120. Q1 numbers reported till now broadly have been lower than estimates with no pick up on the ground we expect Q2 numbers to be worse than Q1 numbers being reported. Steep valuations, Fed about to increase interest rates which will send INR tumbling towards 68-72, Inflation showing upward trajectory are a dangerous cocktail for a crash to happen. On 25th July 2015 Venus goes retrograde and on 26th July 2015 Uranus goes retrograde. As per our studies these geocosmic signatures have an extremely high correlation for a top / crest being formed in world stock markets. Uranus retrograde has significantly high correlation to tops being formed in Nifty. When both these signatures are present in a consecutive manner the probability becomes even higher for a reversal to take place.

SGX Nifty / Nifty 50 components

Cairn India, Tata Motors, Mahindra & Mahindra, Dr Reddy, Maruti, NTPC, Wipro, State Bank of India, Hindalco and Asian Paints were gaining while Lupin, Bajaj Auto, Zeel, Tata Consultancy Services, Hindustan Lever, Bharti Airtel, Tata Power, HCL Tech, LT and Axis Bank were declining and in the red today. 753 stocks were advancing while 725 stocks were declining and 239 stocks were unchanged today.

Bajaj Auto ‘s Q1 profit surprised Dalal Street expectations boosted by other income and but the topline and operating profit missed forecast.

Lupin reported dismal set of numbers Q1 profits fell 16 percent Year on Year. Revenue was down 5.7 percent.

USDINR Update.

USDINR has support at 63.20 a mentioned and is headed for a target of 64.18 Spot. Importers are advised to remain hedged at all times as a fast move is possible in USDINR towards 1st week of Aug 2015. Longer term we expect USDINR to touch 68-72 range in this financial year.

Crude Oil Update

Nymex crude oil has support at 46 and resistance at 72. For this financial year we see Crude Oil to be range bound between these two prices. Buy near 46-48 and sell near 72.

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